206
TEXAS STATE LIBRARY
this interest. The Bank is now very solicitious that we shall keep our credit until the loan shall be obtained. They are now in for $400.000 & the loan is all that will relieve them. I am confident that we might have obtained one million in the United States last summer-but Genl Hamilton would not agree to try here:- I had supposed that he had made such an arrangement with the U. Sts, banks as would secure the loan in England-notwithstanding he induced me to write you that he had obtained the money here on his own credit-which is not exactly s [ o ?]. I believe that the best plan to obtain the money is to have the bonds to draw not more than seven per cent and give the comrs a certain & not a contingent commission- 'ren per cent dis- credits the bonds at once- They had better be sold at six per cent with a discount. I now regret that myself and other members of your cabinet induced you, to allow a contingent commission to the banks- I believe that this is the the [sic] main cause for the failure of the loan. Mr Biddle & others are of the opinion that if one of our comrs had remained in England, that they could have sold the bonds of the re- public for the past notes &. liabilities of the U, Sts, bank, as there was & is now some panic about the solvency of the bank in England- growing out of the Hattenger protest, and the suspension of specie payments. I would not change the comrs as this might do harm, but I would change their instructions so as not to allow them to delay for recognition by England as by other powers. I have taken the liberty to write to you, as I always talked to you- The monied matters are in a very bad state both here & in England- 1\fr OOonnells attack on Texas will injure the loan in England & in France, as the opinion prevails in England that the Ministry are afraid of OOonnel notwithstanding Lord Palmerston has said that the cause of the delay is to wait a seasonable time for the action of the Mexican Govt, upon the British mediation. with the hope that something may be done in Philadelphia with individuals, I have said to a very in- fluential gentleman if you will obtain a loan for a million at 8 per ct that you shall have the comns if the President will authorise me to make the loan-this is now trying. . This is taking all the chances and they are all bad enough. The bright promise for the loan has passed by-. If I can do any 38 to serve the Govt, I will do it with pleasure and want no commis~ions. I have sent the Mexican Minister your message which is praised very much by 'the journals of the day- with an assurance that Capt Ross's movements are without the authority of any Govt- as I believe. 'l'here is a very strong feeling in the present congress for Texas. They talk of raising the rank of their minister to 'l'exas- I believe that the question of annexation would pass this congress- I reply to all their enquiries & they are numerous that my Govt is now opposed to annexa- tion. I am yr frd. & Humble Svt Genl R. G. Dunlap 1\1. B. Lamar.
88 Evidently Dun'lap omitted part of a word here. The meaning would be clearer if the suffix "thing" were added.
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